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| Exchange Disseminated Time 08/08/2016 17:15:14 | With reference to the earlier letter dated August 03, 2016 regarding one of the Company's subsidiaries, Samvardhana Motherson Automotive Systems Group B.V. which had announced the launch of its proposed tap issue of US$ 100,000,000 - US$ 150,000,000 senior secured notes offering (the Additional Notes).
Motherson Sumi Systems Ltd has now informed BSE that Samvardhana Motherson Automotive Systems Group B.V. has completed a tap issue of U.S.$100,000,000 4.875% Senior Secured Notes due 2021 (the Additional Notes) to form a single series with the U.S.$300,000,000 4.875% Senior Secured Notes due 2021 issued on June 16, 2016. The Notes were priced inside of the secondaries. The Additional Notes are rated BB+ by S&P and are jointly and severally guaranteed on a senior secured basis by certain of the Company's subsidiaries. The Additional Notes will be listed on the Irish Stock Exchange.
The proceeds from the issuance and sale of the Additional Notes will be used for general corporate purposes, including certain capital expenditures. |
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